Public debt management of Ukraine

Abstract

The aim of the article is to justify the main tools for reducing the debt burden on the State Budget of Ukraine during the war and in the period of post-war reconstruction, based on the generalization of the world experience of restructuring the state debt and providing grant assistance. The research is based on the hypothesis of the need to develop and approve debt cancellation mechanisms for Ukraine, as well as the orientation of state policy to achieve an increase in the share of grant aid in post-war recon­struction, taking into account world experience, in particular the Marshall Plan (МР). To achieve the specified aim, the research methods were used such as: historical, logical, methods of statistical analysis, synthesis and comparison, generalization. Given the unprecedented nature of the destruction caused and the fall in Ukraine’s GDP, there are reasons to insist on writing off most of Ukraine’s debt to inter­national organizations, including the IMF and the World Bank. The second component of the restructuring program should be the application of discounts to the nominal amount of debt for bond loans of private creditors. It was noted that in the conditions of active military operations in Ukraine, it is expedient to attract as much grant funding and long-term loans at preferential interest rates as possible.